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Portable Media Player Market to Grow from $24.89B in 2023 to $35.99B by 2028 at 7.6% CAGR, Driven by Rising Consumer Spending
Portable Media Player Market Report
As per the report, the portable media player market size has grown strongly in recent years. It will grow from $24.89 billion in 2023 to $26.86 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The portable media player market size is expected to see strong growth in the next few years. It will grow to $35.99 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%.
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Surging Consumer Purchasing Power Fuels Growth In The Portable Media Player Market
Increasing consumers purchasing power led to a rise in spending on entertainment products and is expected to propel the growth of the portable media player market going forward. An increase in purchasing power is strongly correlated with entertainment products. Because of the increase in purchasing power, people will buy more entertainment products, including TVs, DVDs, and portable media players. For instance, according to the US Bureau of Economic Analysis, in the United States, consumer spending increased to $13,916 in July 2022 from $13,818 in January 2022. Therefore, increasing consumers' purchasing power led to a rise in spending on entertainment products, which is driving the growth of the portable media player market.
Technological Advancements Redefine The Portable Media Player Market
Technological advancements are the key trend gaining popularity in the portable media player market. Major companies operating in the market are developing new technologically advanced products such as the M17 portable desktop class music player that uses dual audio channels for an improved experience. For instance, in January 2022, FiiO, a China-based electronics company introduced the FiiO M17 portable desktop class music player. The device's unique features are left and right audio channels each containing a desktop-class, 8-channel ES9038PRO flagship digital audio signal (DAC) thereby providing clear audio and improved experience to its users and extremely pure audio reproduction. The device's output power is increased by 225% up to 3000mW per channel with a lower output impedance.
The portable media player market covered in this report is segmented -
1) By Type: Audio, Video
2) By Industry: Flash-Based Players, Hard Drive-Based Players, Mp3 CD Or DVD Players, Networked Audio Players, USB Host Or Memory Card Audio Players
3) By Distribution Channel: Hypermarkets And Supermarkets, Electronic Stores, Online
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Major companies operating in the portable media player market report are LG Electronics Inc., Apple Inc., Samsung Electronics Co Ltd., Microsoft Corporation, Dell Technologies Inc., Sony Corporation, Lenovo Group Limited, Haier Group Corporation, Toshiba Corporation, Philips Electronics N.V., SanDisk Corporation, PoGo! Products Ltd., Eros Digital Home Ltd., Insignia International Pvt Ltd., PNY Technologies Inc., Creative Technology Ltd., Iriver Inc., Cowon Systems Inc., Korean Cowon Systems Inc., FiiO Electronics Technology Co, Archos S.A, Ematic Solutions, Coby Electronics Corporation, Pioneer Corporation, Questyle Audio Engineering, Teclast Electronics Co Ltd., Sonicblue Inc., Shenzhen Shanling Digital Technology Development Co Ltd.
Contents of the report:
1. Executive Summary
2. Portable Media Player Market Report Structure
3. Portable Media Player Market Trends And Strategies
4. Portable Media Player Market - Macro Economic Scenario
5. Portable Media Player Market Size And Growth
…..
27. Portable Media Player Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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